IMF adopts CPIFR assessment standard for Islamic banking

IMF adopts CPIFR assessment standard for Islamic banking

The International Monetary Fund (IMF) announced Thursday that it will integrate Islamic banking, which now has a presence in more than 60 countries, into its financial stability assessments in nations where Islamic finance commands at least 15 percent of the banking sector market. Beginning in 2019, they’ll use the Core…

2 die in Somalia flooding ahead of tropical storm landfall

2 die in Somalia flooding ahead of tropical storm landfall

Meteorologists tracking Sagar, a relatively rare tropical storm that strengthened as it crossed the entire Gulf of Aden, are expecting landfall on Saturday near the Djibouti-Somalia border. It has potential impacts for Ethiopia too as it reaches the Horn of Africa. Flash floods were reported in the Bari region of…

Tensions in Djibouti over U.S. claim of China’s laser use

Authorities in the United States have filed a formal complaint with China over the reported use of lasers directed at U.S. pilots in Djibouti, where both countries have military bases near each other. Four laser incidents occurred over the last several weeks at Djibouti, U.S. military officials said. Three involved…

Yamamoto heads to Djibouti after rare Eritrea visit

Senior United States official for African Affairs Ambassador Donald Y. Yamamoto, the country’s Principal Deputy Assistant Secretary, is making a rare visit to the politically isolated Eritrea Monday before moving on to Djibouti and Ethiopia. In Asmara, Yamamoto is meeting with U.S. embassy staff as well as the wider diplomatic…

China scoffs at news of U.S. inquiry into its African influence

China has defended its role on the African continent, following word that United States lawmakers plan to investigate Beijing’s expanding footprint in African nations and across the globe. Devin Nunes, a Republican member of Congress from California and Chairman of the U.S. House Intelligence Committee, said Sunday that as part…

Djibouti: We’re not giving the Doraleh site to China

Djibouti has pushed back against what it called “mercilessly pillorying” over speculation that the strategically located Doraleh Container Terminal (DCT) – seized from former operator DP World by its government last month – could be used to expand China’s footprint in the Horn of Africa while threatening United States interests….

India’s Kovind begins state visits to Djibouti, Ethiopia

Indian President Ram Nath Kovind began a state visit to Djibouti on Tuesday, his first such trip since taking office in July and the first such high-level meeting since diplomatic relations were established between the two countries. Kovind was welcomed on his arrival by Prime Minister Abdoulkader Kamil Mohamed, before making…

China opens new Djibouti military base

China has formally opened its new military base in Djibouti, with a national flag ceremony and a military parade held at the barracks near the port city of Obock. The ceremony marked the arrival of People’s Liberation Army (PLA) troops at the base, following a journey that began July 11…